Waiting for other shoes to drop
Uncertainty continued to hover over the cluster of companies that once huddled under the financial umbrella of New York financier David Blech, with Bio-Technology General Corp.'s R&D spinoff today waiting to close a $3.75 million tranche from a Blech-placed funding.
The BTGC situation follows on MicroProbe Corp.'s announcement last week that Blech would be unable to provide further funds to the company, jeopardizing MPRO's ability to continue operations.
In the case of BTGC, Blech no longer holds any shares of the Iselin, N.J., company. But his firm